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April 2, 2020
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Telangana news

11:00 AMIndigo warns of ‘material impact’ due to coronavirusThe leading Indian airline in terms of market share has reported cancelled flights and fewer bookings in the ongoing quarter, which is likely to lead to a negative impact on earnings.PTI reports: “‘In January and February 2020, IndiGo experienced modest impact from the coronavirus. We cancelled our flights to China and Hong Kong and reduced frequency to certain other Southeast Asia markets,’ the airline said in a filing to the BSE.’This capacity was redeployed in other markets without having a material impact on our revenues. Over the past few days however, week—on—week, we have seen a 15—20 per cent decline in our daily bookings.'”Indigo shares today have hit lower circuit, down 10%10:15 AMOil drops further after US travel banThe month-long travel ban imposed by US President has not been good news for oil as investors (probably) worry about the impact of the ban on business.Reuters reports: “Brent crude was trading down $1.91, or 5.3%, at $33.88 by around 0339 GMT, slightly above earlier lows. The contract fell nearly 4% on Thursday.U.S. crude was down $1.74, or 5.3%, at $31.24 after dropping 4% in the previous session.Oil is down around 50% from highs reached in January.”9:45 AMStocks near bear territoryThe Sensex and the Nifty are down close to 20% from their high in January. A fall of 20% from the top is the usual definition of a bear market.The Nifty is currently trading at around the 9,500 mark, a level that has offered support at two previous instances in 2018. The Sensex is trading at its 200 day moving average.Ashish Rukhaiyar from Mumbai reports: “India VIX index again jumped nearly 7% to move to 33.7.In the BSE, more than 1,300 stocks lost ground during the morning session, as against less than 109 gainers.  Stocks like Infosys, Tech Mahindra, ITC, Reliance Industries, ONGC, Axis Bank, Tata Steel, Axis Bank, NTPC and State Bank of India all lost more than 5%”9:30 AMData | Where does the March 9 market crash rank among the biggest falls in Sensex history?The Indian benchmark Sensex witnessed its biggest ever fall in absolute terms on Monday, March 9. The crash came amid fears of a global market slowdown due to the COVID-19 outbreak.Among the factors that led to the unprecedented crash is a weakening rupee. The Monday meltdown in the Sensex was accompanied by steep falls in many global markets.9:15 AMNifty, Sensex down about 4%Pre-open levels suggest that the Indian benchmark stock indices are going to witness another sharp crash today.The Sensex is set to open over 1,200 points down while the Nifty trades at a little over the crucial 10,000 mark.Overnight, the Dow Jones index in the US lost over 5% as steps taken to control the impact of the coronavirus failed to impress investors.

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